Tata Motors shares jump more than 8% after net loss reduction in 4Q22

Tata Motors shares jump more than 8% after net loss reduction in 4Q22

Home-grown auto major Tata Motors on Thursday reported narrowing of consolidated net loss at Rs 992.05 crore in the fourth quarter ended March 2022, amid challenges of semiconductor shortage and rising inflation.

Shares of Tata Motors rallied over 8% in early exchange on Friday, a day after the organization revealed narrowing of united overal loss at Rs 992.05 crore in the final quarter ended March 2022. The stock hopped 8.30 percent to Rs 403 on the BSE. At the NSE, it zoomed 8.31 percent to Rs 403.25 each. The organization had posted a united total deficit of Rs 7,585.34 crore in a similar period last fiscal, Tata Motors said in a regulatory filing.

Its total consolidated revenue from operations stood at Rs 78,439.06 crore in the fourth quarter, as against Rs 88,627.90 crore in the year-ago period, it added.

On a standalone basis, the automaker reported a net profit of Rs 413.35 crore in the period under review, as against a net profit of Rs 1,645.68 crore in the fourth quarter of 2020-21.

Standalone total revenue from operations stood at Rs 17,338.27 crore in the fourth quarter, as compared to Rs 13,480.42 crore in the same period of the previous fiscal, Tata Motors said.

“The key highlight of this particular quarter is the sequential recovery that we saw across all businesses, despite the challenges that we had on semiconductors and inflation,” Tata Motors Group CFO P B Balaji said in an earnings call.

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